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Salem 01970 South Salem
55 Summer Street
Photo of 55 Summer Street
Sold on Jun 30, 2005

1

Map

$369,000
● House - Off Market

55 Summer Street

Salem, MA 01970
bedrooms
2 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,166 Ft²
$649,452
RealtyHop Estimate
76.00%
Since Jul 1, 2005
MA-Boston
Primary Model

About This Property

Why live in a Condo when you can own your own Historic Home in Salem?  The Jonathan Preston Home was built in 1842 and is located in the McIntire Historic District.  Three of the sun-filled rooms have working fireplaces.  The remodeled kitchen with center island overlooks the professionally landscaped yard which includes brick patio areas and gardens.  All this is just a short walk to train, town, restaurants, museums and ocean.
Unit Size
1,166 Ft²
Days on Market
-
Land Size
0.07 acres
Price per sqft
$316
Property Type
House
Property Taxes
$273
HOA Dues
-
Year Built
1842

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 5 months ago (MLSPIN #70189029)

Price History

Date / Event Date Event Price
Mar 11, 2011 Sold
Premium
Sold
Jan 6, 2011 Listed $279,900
Listed
Jun 30, 2005 Sold
Premium
Sold
May 10, 2005 Listed $369,000
Listed
May 30, 2003 Sold
Premium
Sold
Show More

Property Highlights

Fireplace

Building Info

Overview

    General

  • Year Built: 1842
  • Effective Year Built: 1842
  • Building Count: 1
  • Total Rooms: 5
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 27
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 493
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,402
  • Total Building Area: 1,166
  • Gross Building Area: 2,261
  • Building Area: 1,166
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,166
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: 618R BOSTON ST
  • Land Acres: 0000000078
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Salem School District
  • School Tax School District: SALEM SD
  • Census Tract: 204200

Zoning

  • Zoning: R2

Geography

  • Parcel: SALE M:25 L:0606
  • Lot: 606
  • Municipality: SALEM
  • Latitude: 42.5185
  • Longitude: -70.8979

    Address

  • Full Address: 55 Summer St
  • Address - House Number: 55
  • Address - Street Name: Summer
  • Address - Suffix Type: St
  • State: MA
  • City Name: Salem
  • Carrier Code: C007
  • 4-Digit Zip Code: 3045
  • Zip Code: 01970

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $639,300

    Appraisal Valuation

  • Standard Deviation: 0.2193
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 69
  • Final Value: 593,397
  • High Value: 723,586
  • Low Value: 463,208

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $550,200
  • Assessed Land Value: $187,200
  • Assessed Improvements Value: $363,000

    Sales

  • Current Sale Recording Date: Mar 11, 2011
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 00003110
  • Previous Sale Recording Date: Jun 30, 2005
  • Previous Sale Amount: $369,900
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About South Salem

Stats & Trends

Median Asking:

$619,000

Sale Price/ft²

$367

Below Asking

0.01%

Average Days on Market

56

Average Home Size

2063 ft²

Average Home Age

90 years

Currently For Sale

41 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 160 Federal St, Salem, MA, 01970

$1,725 /mo

  • 1 Bed
  • 1 Bath
160 Federal St, Salem, MA, 01970 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 5 months ago
Data Source: MLS PIN, MLS# 70189029

Frequently Asked Questions

When was property at 55 Summer Street built and last sold?
The property at 55 Summer Street was built in 1842 and last sold on Jan 1, 1970 for $287,000.
How much is this home worth?
The estimated value of the home located at 55 Summer Street is $295,449.
What are some comparable homes to 55 Summer Street?
There are currently no comparable homes to 55 Summer Street.
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